Vast Resources plc / Ticker: VAST / Index: AIM / Sector: Mining
5 May 2020
Vast Resources plc
(“Vast” or the “Company”)
Baita Plai Project update
Vast Resources plc, the AIM-listed mining company, is pleased to update the market on progress at its Baita Plai Polymetallic Mine “Baita Plai” in Romania.
Following the previous announcement regarding shipping updates made on 27th April 2020, the Company can confirm that the first shipment of equipment, which includes the longest installation lead time items consisting of railway tracks and locomotives, is currently being unloaded from trucks at Baita Plai after clearing Romanian customs last week. The shipping schedules of the remaining containers of equipment remain on track.
The Company will post photographs and videos of the equipment being unloaded during the course of the day on its social media pages and website.
Drilling continues with positive results at the mine as well as the Metallurgical test work being undertaken by Grinding Solutions UK with the initial results showing grade and recovery being consistent with historical data and in line with the Company’s internal forecasts.
The Company will keep the market informed on the remaining shipments and on further geological results.
The information in this announcement that relates to the drilling operation is based on information compiled by Mr Craig Harvey, the Chief Operating Officer for Vast and a full-time employee and Director of the Company. Mr Harvey is a Competent Person who is a Member of the Australian Institute of Geoscientists and of the Geological Society of South Africa, a Recognised Professional Organisation included in a list that is posted on the ASX website from time to time.
Mr Harvey has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and to the activity being undertaken to qualify as a Competent Person as defined in the 2012 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’. Mr Harvey consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.
For further information, visit www.vastplc.com or please contact:
|Vast Resources plc|
Andrew Prelea (Chief Executive Officer)
+44 (0)_20 7846 0974
|Beaumont Cornish - Financial & Nominated Adviser |
+44 (0) 20 7628 3396
|SP Angel Corporate Finance LLP – Joint Broker |
+44 (0) 20 3470 0470
|Axis Capital Markets Limited – Joint Broker |
+44 (0) 20 3206 0320
+44 (0) 20 7138 3204
The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 (“MAR”).
ABOUT VAST RESOURCES PLC
Vast Resources plc, is an AIM listed mining company with mines in Romania and Zimbabwe focused on the rapid advancement of high quality brownfield projects by recommencing production at previously producing mines in Romania and commencement of the joint venture mining agreement on the Chiadzwa Community Concession Block of the Chiadzwa Diamond Fields in Zimbabwe.
The Company’s portfolio includes an 80% interest in the Baita Plai Polymetallic Mine in Romania, where work is now currently underway towards developing and recommissioning the mine and the Community Concession Block in Chiadzwa, Zimbabwe.
Vast Resources owns the Manaila Polymetallic Mine in Romania, which was commissioned in 2015, currently on care and maintenance.